LG Electronics misses forecasts as TV profits tumble

Customers look at LG Electronics' TV sets at a store in SeoulSEOUL (Reuters) – LG Electronics Inc fell short of consensus forecasts in quarterly earnings on Wednesday, with profits in its TV division tumbling to around one tenth of year-earlier levels as the world's No.2 TV maker bumped up promotional spending in the year-end holiday season. LG is set to face a challenging year with forecasts from research firm DisplaySearch calling for flat global TV sales on economic uncertainty and as many households in developed economies already own a flat-screen TV. Currency rates also look unfavorable. …

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